View Full Version : Whats the inspiration left for retail trading?
Together with the black swan event.... The following question arises what confidence and inspiration retailers are left with to continue?
1. With 3 Trillion turn over it boasts of good liquidity.... Deficiency of bandwidth has been termed of the issue. . No reason this can't happen again....
2. STOP was supposed to be fail safe. . but no . . .this acts as a market order only and may not be filled based on liquidity
3. A few of the entities are re-correcting the filled price ( the early SL's to some 2000-4000 Pip slippage
4. Losses are citied due to Client bankruptcy - who gained on the opposite end - not known
I know it is person to opt to trade or not... but what inspiration could one have in taking up or continuing within Retail trading...
I don't care about your IG and NADEX advertisements. I think you guys are just spamming the boards up. You seriously think Im spamming? ?
Ok add me Facebook Rick Cogsy, add me skype that I have no agenda.
And youll see Im just a trader. IG and NADEX make it effortless to earn money if you know what your doing. Maybe its because of the success I have had with it. I just feel I wanna share my success with other people. I dunno accountable for saying anything.
I will tell your angry.
but what inspiration could one have in taking up or continuing within Retail trading.... //-----
hello ananth.... Since the reward far far out weighs the risk.... Many of us didn't exchange the chf on account of this risk.... And yes, we totally stood a strong prospect of large losses although our accounts have been in no way influenced by the chf....
But why should we not keep on doing something profitable for us.... Will make changes to protect myself in the future.... dang straight.... Started those changes about the 15'th....
The thought of quitting has never entered my mind...h
Hi Hayseed...
The reason why I opened this thread is to collectively understand the protections available and one needs to know about if you supposed Future do u mean Futures Market...
Offcourse another question is the success factor on your profitability?
And this is the reason I exchange IG and NADEX, dont have to worry about this stuff
because they're their own exchange and its way much easier to make more....for me!!
A trading account needs to be treated as a business. . That makes you the CEO. . CFO. . And who ever is in charge of risk assesment. I also never exchanged any CHF crosses. . I simply hated the entire concept of a pegged currency. . . . That turned out to be a great instinct. Other things individuals can do to help control their risk. . Is to have a stop loss in place. . This will take care of the 99.9% of the occasions. And a individual can also control their leverage. . There is not any one holding a gun to your head forcing you to take the full 100:1.
What FXCM could do. . Is that next time someone makes the decision to peg their currency. . They could tell them to beat it. . And say they refuse to make trades in a pegged Currency. . Trading already halted . . Reason for volatility. . They should have done it to the CHF crosses also. . Reason for intervention. . Would have saved them 270 million dollars. Next time a central bank decides to peg. . I hope, brokers do tell em to F off. . And refuse to make liquidity in these currencies.
Hi Hayseed... The reason why I opened this thread is to collectively understand the protections available and one needs to be aware of if you meant Future do mean Futures Market... Offcourse another question is the success factor on your profitability? //-----
hey ananth.... Was not thinking about'Futures' market when mentioning'future', but now that you point out it, you are right....
By future, I meant from this point forward.... On thursday and friday I withdrew a bit over 30k and opened a etrade'futures' account and began opening a citi fx pro account.... I will keep my fxcm account too....
Success factor == my openness to silently try to do what so many loudly insist can't be achieved...h
a trading account needs to be treated as a business enterprise. . That makes you the CEO. . CFO. . And who is responsible for risk assesment. I never exchanged any CHF crosses. . I simply hated the whole concept of a pegged currency. . . . That turned out to be a fantastic intuition. Other things people can do to help control their risk. . Is to have a stop loss in place. . This will take care of the 99.9% of the occasions. And a individual can additionally control their leverage. . There is no one holding a gun to your head forcing you to take the entire 100:1. Pooks .
Agreed but granted that Forex is not controlled there is no guarantee that under the pretext of Liquidity non accessibility another run of similar kind can happen with non-pegged currencies too,,, let's state because of war or terriorist attack ( rumour...)
Exactly so if retailers eliminate their greed and transaction nearer to 1: 1,1:5,,,and have smaller profits....so even if you have these situations and in the wrong end one will probably be in a position to repay....or do they have another choice,,
I think that Flash Crash of 2010 from the United States Equity markets Controlled by whoever or the FTC.. Is proof that it doesn't matter if its regulated or not. So your point not being regulated is a drawback is invalid.
In fact, there is not anything worse than the Unites States super regulated Stock market. . They've flash crashes every single day. . With the GAPS. . and HALTED TRADING. .
For example the FXCM stock. .
That fell from $27 to $1. .was HALTED. . Is not that basically exactly what happened to the currency market. . Anybody who owned that stock. . Got screwed by the regulators who stopped trading. . And allow it to open in a far lower price. Pretty much also wiping out any accounts that might had been around margin, even if the Margin from the USA is 4:1 shirts.
I think that Flash Crash of 2010 from the United States Equity markets regulated by the FTC or whoever.. Is proof that it doesn't matter if its regulated or not. So your point that not being regulated is a drawback is invalid. I would presume you dont understand what IG and NADEX is?
I think that Flash Crash of 2010 from the United States Equity markets regulated by the FTC or whoever.. Is evidence that it does not matter if its regulated or not. So your point that not being regulated is that a negative is invalid.
You make a point,,, so regulated or non-regulated isn't a point. . As a company that this is a Systemic risk that you need to know about even though could be 0.001percent from the greed to make quick wealth...
I personally don't care about NADEX advertising and your IG. I believe you guys are only spamming up the boards.
quote I'd assume you dont know what IG and NADEX is?
COGS...
Currency trading for sure would have restricted the reduction but how reliable is Binary trading,. . .have discovered there's heavy quantity of price rigging and have experienced it several times also...
Really, there's not anything worse than the Unites States super controlled Stock market. . They've flash crashes every day. . With the GAPS. . TRADING HALTED. . For instance the FXCM stock. . That dropped from $27 to $1. .was HALTED. . Isn't that basically what happened to the currency market. . Anybody who owned that stock. . Got screwed from the authorities who halted trading. . And let it open in a much much lower price. Pretty much additionally wiping out any accounts that might had been around margin, even when Margin from the USA is 4:1 tops....
For me quitting only helps you to bring some sanity in to market and stabilize the price discovery.... So . . Technically Sudden lack of Liquidity may occur any time for any tool and due to what ever cause. . And simply that's the risk that one needs to be mindful when one clicks on the BuY or SELL button...
and this is why I trade IG and NADEX, dont have to think about this stuff because they are their own trade and its way much easier to make more....for me!! I had been considering Nadex also, that's if my broker gets me back the money in my account that I closed Friday. They say that they were not effected substantially by the Swiss Franc mess and they are functioning as normal however, time will tell. Funny part is that they E-mailed all their US customers now saying that do to regulatory motives they can't accept US customers and they have an arrangement with Tallinex to move all of US customer's accounts to them by 1/30/2015 and if you don't want it to happen please close your account. Needless to say I am on pins and needles in the moment until I see money in my banking account!
What's the lesson learnt from the SNB move? From now on ALL retail traders will heed the risks and cure Fx for a business.
Well, until the next batch come together!
What is the lesson learnt by the SNB move? From today on ALL retail traders will heed the risks and treat Fx as a business. Well, until the next batch! Well, the only problem is the fact that it was lucrative that anyone with a identification proof and 25$ to become trading....in FX and will 1000 of brokers serving and luring across the world.... Did that change in that one single day.... What affects does it depart with Retail FX and firms livelihood encircling this... Banks have been in this situation for ages ,, and can withstand these shocks... but what about a typical person lurks about 300 K loss... (94 is of Oanda were brief CHF)... similar instances across the planet...
I believe it can only be favorable... Lets just say BROKER X.. Declares bankruptcy and closes up shop. . . . The same men and women who ran BROKER X.. Most of them can get hired to different Brokers. . Or some will start their NEW ones. . So BROKER COMPANY Y goes into presence. With more experience under their belts, and still honest aims, COMPANY Y in concept ought to be superior to Company X.
I think that it can only be favorable... Lets just say BROKER X.. Declares bankruptcy and shuts shop. . . . Those same people who ran BROKER X.. The majority of them can get hired to other Brokers. . Or some will start their NEW ones. . So BROKER COMPANY Y belongs into presence. With more experience under their belts, and still honest aims, COMPANY Y in theory ought to be exceptional to Business X. Pooks. .
As a trader. . And forex as business you may select and expect the company to be good.... But if you say this episode is good... why there's just handful FXCM, Alpari, and yet another NZ firm went into trouble while you will find 1000's of more that haven't been changed so far and operational.... Something to contemplate...
quote I had been considering Nadex too, that's when my broker gets me back the money in my account that I shut Friday. They say they were not effected considerably from the Swiss Franc mess and that they are operating as normal but time will tell. Funny part is they E-mailed their US clients now saying that do to regulatory motives they can no longer accept US clients and they have an arrangement with Tallinex to move all of US client's accounts to them by 1/30/2015 and if you don't want that to occur please close your account. Needless to say...
very intriguing,
quote COGS... Currency trading for certain would have restricted the loss but how dependable is Forex trading,. . .have discovered there is heavy amount of price rigging and have undergone it few times also....
Thats the gap with NADEX and IG, is that they are exchanges, the strike price is determined by different means but basically bid ask/2 and the only way you'll be able to buy a contract would be if somebody else is selling a contract
additional binary alternative brokers do manipulate the price, they pay in house and are like a casino.
Im personally in a litigation with a single right now, my lawyer is currently drawing the letter of note. So I dont wanna get into detail PM if interested.
sorry Cogs. . Was not really mad lol. . Maybe just cynical.
connect ananth, Well, if you can't handle a black swan once and awhile, then, yes, you should not be trading.
Gravitist - not certain if you'd sarcasm in it,,
but think about it objectively, true that percentage of occurance is 0.01%, but you dont know when you'll be hit by it know how to protect from it..., could maintain ECB release too....think u expect it to rally on news but it only goes to Parity without any buyers for your market quote from 30 sec.... And you wind up with 500 k USD Slapped as debit card to be compensated and with a lawsuit...
sorry Cogs.. Was not lol. . Maybe very cynical. Understandable in this market, everybody has a schedule some being dishonest and crocks well other becoming more truthful and honesty with solid motives
my idea is to get some thoughts together, thinking about different ideas and ways to make it a lot easier to make money, feeding off each other. I believe most of forum have that agenda
Helping each other with, no price, and no affiliation with a broker or an exchange,
Connect,
I was pulling your chain a bit, just out of fun - please, no hard feelings, so I joke a lot.
To be serious, the SNB had never played honest and shouldn't be trusted. I'm not too surprised by their activities. Unlike other government -run central banks,
the SNB is 48% PRIVATELY owned - SNB really does expect to make a profit! I really don't trade CHF crosses, due to their shenanigans.
Connect, I was pulling your chain a bit, just out of pleasure - please, no hard feelings, I joke a lot. To be serious, the SNB had never played fair and shouldn't be trusted. I am not too surprised by their activities. Contrary to other government -run central banks, the SNB is 48% PRIVATELY owned - SNB actually does expect to make a profit! I don't trade CHF crosses, because of their shenanigans. Well not a bad ploy in this situation gravitist,,, simply to laugh out it!! :-)
quote thats the difference with NADEX and IG, is that they are exchanges, the strike price is dependent on different ways but basically bid ask/2 and the only way you can buy a contract would be if somebody else is selling a contract other binary choice brokers do manipulate the price, they cover house and are similar to a casino. Im in a lawsuit with a single right now, my lawyer is currently drawing up the letter of notice. So I dont wanna enter detail PM if interested.
Hi Cogsx86,
I'm with IG Singapore. I've always been wondering what type of broker IG is precisely.
From the data I gathered from its site, it appears IG is a ECN, STP/MM hybrid broker. Is this right?
Anything I'm missing?
Thank you if you could share a light.
Hi zxdtrader. IG (Australia) offers both MM (over the counter) and Direct Market Access (DMA) models for the pro investor trying to know market depth. The DMA is very much like the ECN model nonetheless with a slight difference because IG stands in your location as counterparty with the Interbank market and automatically generate a CFD to cover their risk and pass this through to you. I hope this helps.
Thanks copernicus,
so IG is a sophistied MM. Not certain as it's going to screw me up. LOL I am little.
Since I am dealing with IG, I am wondering, at case similar to this, what's likely to happen when I had a CHF trade. Most likely, slippage just?
I'm only trying to understand the way their back end is operating, the way they route the transactions when possible, though I guess it is their secret.
thanks copernicus, therefore IG is a sophistied MM. Not sure when it's going to screw me up. LOL, anyway, I am little. As I am coping with IG, I am wondering, at the event similar to this, what's likely to happen when I had a CHF trade. Most probably, slippage only? I am only trying to understand how their rear end is running, how they route the transactions when at all possible, though I figure it is their key. Liquidity can be a problem with MM's but on balance, IG is pretty nice and needs to be to keep its market share. The issues with last weeks CHF crisis was faced from the ECN brokers as opposed to the MM's. IG did nevertheless cop a $30M loss for the Group (and I suspect this was out of their DMA version ) but this was relatively modest considering the size of their balance sheet.
If you drill down on the chart to the 1-3 min timeframes you can see that unlike some of the other men, IG held it together quite well with restricted openings and there were a number of points for transaction exits. Although some slippage but not excessive.
Appearance I am not advertising for these but I've been using them a long time now (10 years plus) and I've been extremely happy with them. There are a couple grudges such as interest is not received by you on your collateral. There are also points of reduced liquidity on a number of the instuments during out of hours periods where spreads can discount but this is faced by most of OTC brokers so that I suck it in and cop this candies as their other services compensate for this. I tend to exchange on longer term TF so these disperse blowouts don't materially affect my game but for a shorter trem trader they might.
They rear their MM model up using a solid hedging egy where they offload a vast percentage of their counterparty risk into the Interbank which makes it quite difficult for an event like last week to nail them. I am quite risk averse and this is among the main reasons I chose them as my principal broker. I also have Axitrader as a secondary broker but that I don't get the same services and platform thus don't use them much. It is preferable to spread the joy to some number of brokers to minimise risks related to company risks or force majeure. :-)
(nevertheless feel blessed I closed MF account months until it dropped, Singapore clients took years to return a part of their cash ). Amen to this zxd:--RRB-
I believe IG is very professional in this business, only the MM nature always made my anxious and suspicious from time to time Yep the suspicion is difficult to avoid especially from the'sniffing of stops' but I have a sense that my too conspiratorial nature is my main problem. My trade sizes are barely a blip in the scheme of things. I just like to believe it is me against the market, however I believe therein lies the biggest problem for a lot people. Nice to hear you have had any slippage that is favourable. Each cloud has a silver lining.
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